State of Michigan Retirement System Sells 200 Shares of Dayforce Inc (NYSE:DAY)

State of Michigan Retirement System reduced its position in Dayforce Inc (NYSE:DAY) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,810 shares of the company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Dayforce were worth $3,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Dayforce during the 3rd quarter valued at $19,273,000. Principal Financial Group Inc. bought a new stake in Dayforce during the third quarter valued at about $11,135,000. EdgePoint Investment Group Inc. raised its holdings in Dayforce by 1.1% during the third quarter. EdgePoint Investment Group Inc. now owns 10,624,105 shares of the company’s stock valued at $650,726,000 after acquiring an additional 112,086 shares during the period. Janus Henderson Group PLC lifted its position in shares of Dayforce by 1.9% in the third quarter. Janus Henderson Group PLC now owns 5,669,154 shares of the company’s stock valued at $347,236,000 after acquiring an additional 103,794 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Dayforce in the third quarter worth about $5,292,000.

Insider Buying and Selling at Dayforce

In other Dayforce news, COO Stephen H. Holdridge sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $71.33, for a total transaction of $71,330.00. Following the completion of the transaction, the chief operating officer now owns 119,022 shares in the company, valued at $8,489,839.26. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.90% of the company’s stock.

Dayforce Trading Up 1.4 %

Shares of NYSE DAY opened at $55.43 on Friday. Dayforce Inc has a 1-year low of $47.08 and a 1-year high of $82.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.13 and a quick ratio of 1.15. The business’s 50 day moving average is $67.54 and its two-hundred day moving average is $67.76. The stock has a market capitalization of $8.81 billion, a P/E ratio of 503.96, a PEG ratio of 2.49 and a beta of 1.33.

Dayforce (NYSE:DAY) last released its earnings results on Wednesday, February 5th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). Dayforce had a net margin of 1.03% and a return on equity of 6.49%. As a group, research analysts expect that Dayforce Inc will post 1.48 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Scotiabank decreased their target price on Dayforce from $75.00 to $72.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group reduced their price objective on shares of Dayforce from $80.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $80.00 target price (down previously from $85.00) on shares of Dayforce in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $95.00 price target on shares of Dayforce in a report on Thursday, February 6th. Finally, Stifel Nicolaus decreased their price target on shares of Dayforce from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.07.

Dayforce Company Profile

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.